AAATrade Review 2020
AAATrade is an online forex and CFD broker, investment firm, crypto exchange and liquidity provider. The broker provides online trading on over 1,000 CFDs via the popular and powerful MT5 trading platform. They offer competitive trading fees and spreads along with a range of trading tools and educational resources to assist traders.
AAATrade Review 2020, Pros & Cons
- Regulated broker
- PAMM accounts
- Access to trade over 60,000 instruments from over 60 exchanges
- Over 1,000 CFD tradable assets
- Trading education & market analysis
- Clients from USA, Iran, Algeria & over 30 other countries are not accepted
- No fixed spread accounts
- Minimum $500 deposit required
In this detailed AAATrade review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
AAATrade is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including AAATrade.
AAATrade Review: Summary
AAATrade is a financial investment firm located in Cyprus. Founded in 2013, the company offers a plethora of financial services to retail and institutional clients across the globe.
AAATrade offers access to trade over 1,000 CFDs, about 60,000 securities and Crypto exchange services where more than 50 cryptocurrencies can be traded. The brand also offer managed portfolios and financial investment advisory services.
AAATrade offer the No Dealing Desk (NDD) brokerage model which gives clients direct access to the markets without broker interference. The broker states that it operates the straight through processing (STP) model. AAATrade is also a liquidity provider that services several institutional partners by offering them competitive services and modern technologies.
As part of its social responsibility, AAATrade supports the United Nations International Children Emergency Funds (UNICEF). The broker is proud to financially support an organisation that preserves, protects and improves the life of children across the globe. AAATrade also supports the Vatican Museum in its efforts to preserve some historical works of arts.
AAATrade Review: Regulation
AAATrade Ltd is a Cyprus Investment Firm (CIF) with the registration number: HE 322745. The broker is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) with the Licence number 244/14. Through the MiFID II passport, AAATrade is also registered with some other European regulatory authorities like BaFin in Germany with license Number: 45052, the FCA in the UK with reference number: 659844, and the CNMV in Spain with reg. Number 3846.
Clients’ funds are kept with top tier Swiss Banks and are not used by AAATrade to run its daily internal operations. Rather, they are held in segregated accounts in such a way that if AAATrade becomes insolvent, funds can be returned to clients.
AAATrade is also a member of the Investor Compensation Funds (ICF). This membership gives further protection to the clients as their funds are insured under this scheme. If for any reason AAATrade suffers bankruptcy, the ICF can pay eligible investors back their deposits up to €20,000.
AAATrade Review: Countries
AAATrade states that it does not establish accounts to residents or passport holders of certain jurisdictions including the following countries: Zimbabwe, Iceland, Mongolia, Ethiopia, Syria, Yemen, Sri Lanka, Pakistan, Panama, Tunisia, Trinidad and Tobago, The Bahamas, Botswana, Ghana, Iran, North Korea, American Samoa, Guam, Samoa, US Virgin Islands, Sudan, US, Afghanistan, Bosnia and Herzegovina, Guyana, Algeria, Bolivia, Morocco, Nepal, Iraq, Lao PDR, Uganda, Cambodia and Vanuatu.
Some AAATrade broker features and products mentioned within this AAATrade review may not be available to traders from specific countries due to legal restrictions.
AAATrade Review: Trading Platforms
This is the web version of the popular MT5 trading platform. This version runs directly in the web browser and is compatible with most modern web browsers. The platform is designed to trade forex and CFDs using multiple order types and modern technology for speed and efficiency.
AAATrade Desktop Application
This is the desktop version of the MT5 trading platform. It is the main version of MT5 with all the full trading features and applications. The platform is designed with sophisticated trading tools, charting and analytical tools.
Here is a summary of some of the main features of MT5:
- It has customisable interface, layout, colours and tools. Traders can choose to view only their favourite assets and charts.
- It supports the creation and use of expert advisors (EAs) which automates forex and CFD trading.
- The MT5 features 3 types of charts namely: line, bars and candlesticks which are displayable over 21 timeframes from one minute to one month.
- It comes preloaded with 38 technical indicators which can be extended to thousands through the installation of plugin apps.
- The MT5 has 44 analytical and drawing tools which are used to analyse the charts.
- It comes with the economic calendar which is an important tool in fundamental analysis.
- Alert notifications via pop ups, email and SMS.
This is AAATrade’s proprietary trading platform for buying and selling of cryptocurrencies like Bitcoin, Bitcoin Cash, Ethereum, Litecoin, XRP and much more. CryptoExchange is available as WebTrader and also available as mobile apps for Android or iOS devices which can be downloaded and installed from the respective app stores. AAATrade provides crypto wallets for holding the cryptocurrencies. CryptoExchange also accepts buying of Cryptocurrencies with fiat currencies like USD, EUR, etc.
AAATrade Analytics for Android & iOS
This is the mobile app provided for trading the markets. With this mobile app, you can access a wide range of financial markets and enjoy market execution. Trade over 60,000 assets anytime, anywhere. From the mobile app, traders can access a range of trading tools and the AAATrade Academy which provides training materials for traders at all levels. AAATrade’s webinars, live market events and useful trading insights from experts are also available from the app.
AAATrade Review: Trading Tools
AAATrade offers managed portfolios in line with the applicable standards. Client’s assets are managed by AAATrade’s team of professionals. The managers are drawn from various backgrounds such as economics, finance, banking, etc. AAATrade develop strategies based on individual client needs.
Daily technical analysis is presented on the website by AAATrade’s experts. There can be up to 3 updates in a day. The analyses focuses on selected trading instruments especially stocks and forex. It is also available in the clients’ area.
Bloomberg’s P & L podcasts are provided daily in the news tab of the ‘toolbox’ menu in the clients’ area of AAATrade website. This podcast focuses on the financial markets, interviews and analysis. The audio of the podcast is loud and very clear.
The economic calendar is available in the clients’ area of the AAATrade’s website. It shows the dates, times and history of global events and their impacts, analysts’ consensus and actual impact. This tool is very important to traders who need to conduct fundamental analysis as part of their trading strategy.
This section of the clients’ area presents technical analysis videos on selected trading instruments. The videos are precise, clear and usually short (less than a minute).
AAATrade Review: Education
The AAATrade academy is accessible from the clients’ area of the website. It contains training videos, eBooks and a glossary.
This section contains several trading videos grouped under the following sub topics:
- Forex Trading: There are 7 videos on online trading, pips, currency pairs, leverage and technical analysis.
- Market Analysis: This section contains 6 videos on fundamental/technical analysis foundations and strategies.
- Trading Psychology: A video on developing a trading plan to avoid the fear of losing.
- Trading Strategies: 2 videos on developing technical analysis strategies.
- Stocks: There are two videos on the meaning of stock trading as well the terms commonly associated with it.
- CFDs: A video on margin and leverage in CFD trading.
- Technical Indicators: 4 videos focusing on candlesticks, Bollinger bands, moving average, support and resistance.
- Cryptocurrencies: A video explaining the trading terms associated to cryptocurrencies.
The videos are generally short (less than 2 minutes), precise, loud, clear and animated.
EBooks: The academy contains 4 eBooks on Forex, CFDs, Stocks and Cryptocurrencies. All the books are for newbies and are all less than 20 pages.
A glossary of about 130 trading terms is provided in the traders academy.
AAATrade Review: Trading Instruments
AAATrade offers over 1,000 CFD instruments and about 60,000 securities. They are as follows:
- 9 Bonds
- 26 Forex pairs
- 6 Metals
- 55 Crypto assets
- 14 Futures
- 70 options
- 84 ETFs
- 34 indices
- 800+ stocks traded on 24 exchanges
AAATrade Review: Trading Accounts & Fees
This account is designed for new forex and CFD traders. It offers competitive spreads with no commissions charged. The account has 3 tiers:
- Basic services: minimum deposit is $500
- Advanced services: minimum deposit is $25,000
- Premier services: minimum deposit is $100,000
This account is designed for experienced forex and CFD traders with exceptionally tight spreads and low commissions. The account also has 3 tiers:
- Basic services: minimum deposit is $500.
- Advanced services: minimum deposit is $25,000
- Premier services: minimum deposit is $100,000
For both the novice and experienced accounts, advanced services give access to 5% commission rebate and personalized training with analysts. Premier services attract 10% commission rebate, concierge services and a dedicated account manager. The maximum leverage is 1:200 and spreads can be as low as 0.1 pips. Account base currencies are: USD, EUR and GBP. The trading platform is MT5 which is available via desktop, mobile and WebTrader.
This account gives access to trade over 50 cryptocurrencies from the CryptoExchange.
The account also has 3 tiers:
- Basic services: minimum deposit is $500
- Advanced services: minimum deposit is $2,500
- Premier services: minimum deposit is $25,000
Basic services account holders get free access to the education centre while advanced services get daily market reviews and personalized training with analysts. Premier Service accounts get priority support, personal account managers and access to concierge services. CryptoExchange account holders trade only on the AAATrade CryptoExchage platform. Spreads and leverages are not applicable.
As broker fees can vary and change, there may be additional fees that are not listed in this AAATrade review. It is imperative to ensure that you check and understand all of the latest information before you open an AAATrade broker account for online trading.
AAATrade Review: Customer Service
AAATrade client support team is available 24/5 on various channels. For clients’ convenience, AAATrade has provided 25 phone numbers from different countries. Just choose your country, find the phone number and call. The team can also be reached on instant web chat, ‘contact us’ form and email. On social media, they are on Facebook, Twitter, LinkedIn and YouTube
AAATrade Review: Deposit & Withdrawal
- Bank Wire transfers: Deposits are free but a withdrawal commission of €10 is charged for every withdrawal using bank transfer. It takes 2-7 working days to completely process a bank transfer payment.
- Credit/Debit Cards: All major credit cards are accepted including Maestro, Visa and Mastercard payments. AAATrade demands a softcopy of the card before using it for payment. Card transactions are commission free.
- Online Payments: Skrill, Neteller, Fasapay, QIWI and Union Pay are the e-payments methods available. No commissions are charged and payments are processed immediately.
- Cryptocurrencies: Being a crypto exchange, AAATrade accepts cryptocurrencies as forms of payment. Clients are required to prove that the cryptocurrencies belong to them by taking snapshots of the crypto wallet.
AAATrade aims to process all withdrawal requests within 24 hours.
AAATrade Review: Account Opening
To commence trading with AAATrade, the first thing is to open an account with the broker. Visit the official website (www.aaatrade.com) and click on ‘Open Account’ on the far right hand at the top of the webpage and select ‘Trading Account’. The form below displays.
Fill the form and click on ‘open account’. An email is sent to the registered account. Check your email and click on the link sent with the email from AAATrade. After email registration, you are prompted to login to the traders’ area with the just created login details. The next step is to fill the questionnaire and then upload KYC documents. Unverified accounts are limited to $2,000 deposit.
AAATrade Review: Conclusion
AAATrade is a rapidly growing online broker that offers online trading to traders across the globe. They provide over 1,000 forex and CFDs for trading on the powerful MT5 platforms which are available on the web, desktop and mobile. Over 60,000 securities and 50 cryptocurrencies can also be traded.
AAATrade is regulated by the reputable CySEC and must therefore comply with all the rules put in place to protect investors, which includes account segregation, security, reporting and other requirements.
The trading platforms are versatile, sophisticated and suitable for all trading styles and skill levels. The asset index is vast and the trader education package is commendable.
However, a minimum of $500 deposit is required before live trading can commence. This is more than most other online brokers that require less to start trading online.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65.93% of retail investor accounts lose money when trading CFDs with AAATrade. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Cryptocurrencies are complex, high-risk, volatile and may result in the loss of all invested capital over a short period of time; they are not appropriate for all investors. Investors must understand and acknowledge these specific characteristics and risks and be warned that there is no EU regulatory framework governing trading in cryptocurrency products. Investors are not entitled to any protection under the Investors’ Compensation Fund and have no rights to report to the Cypriot Financial Ombudsman in case of a dispute about cryptocurrency services.